Is insurance evil???

First off as a kinda disclaimer....


This is not some pet theory of mine.. just spitballing really..


I personally do not like even the concept of insurance ...

Not from the customer side really, but from the business model side..

See basically every insurance industry is based on NOT paying out to people who have paid in.

For example medical insurance...

Well assuming you pay your premiums your entire life, they will not even come close to the average “end of life” costs..

So if that is the case, how do they make a profit???


Easy... off denying services and people who pay in , that never take out..


So basically their business model is profiting off of people they did nothing for...

Aka a parasite..


From a religious/historical side, charging interest and having insurance was considered a hell worthy trespass for most of Christian history..



BUT MY MAIN REASON FOR THE OP...

what percentage of murders are for insurance money??

If insurance did not exist... how many people would still be alive, since there was no financial benefit for murdering them???


Now that last one is reaching for sure, but I’ve been on a true crime kick lately and the number of murders for insurance is pretty crazy.

originally posted by: JustJohnny

Not from the customer side really, but from the business model side..


Now that last one is reaching for sure, but I’ve been on a true crime kick lately and the number of murders for insurance is pretty crazy.

Health insurance is actually based on a risk pool and premiums based on a 2% profit margin.

Well, before Obamacare... LOL.

As someone who has a wife that battled cancer for 3 years, I can give you about 1.2 million reason$ why I am just fine with it.

As for the murders part, before life insurance people killed others for profit since....

Well, always.

Insurance Companies are an arm of TPTB...a Money laundering arm.

a reply to: JustJohnny

The main issue I have with insurance is that for certain ventures such as owning a vehicle it is obviously compulsory, now over the last few decades the number of vehicle insurance companies underwriting policies has shrunk drastically due to aggressive market buy outs and take overs, basically now you can choice between Company A or B and both are owned by the same multinational company promising 4th quarter growth of 50% to it's share holders.

There is a massive black hole of competition within the market and dare I say price fixing is now a thing, (In my opinion)...

There are also ever increasing measures that a customer has to abide by, parked off road in a brick garage between times of 10pm and 7am, Black box statistical recording of driving performance, GPS tracker and on and on....

If you are a young driver you are finished basically, expect 1/4+ of your monthly wage to go on insurance as a minimum.

a reply to: JustJohnny

I've been hit by a vehicle that was not insured.
My uninsured motorist coverage paid for the damage.
So car insurance is a good thing.


As for medical insurance, I'm going to guess that you have insurance through an employer.
Most people do.
Take my wife for example, she pays around $350 a month for family coverage.
Doesn't sound like much does it.
But consider that she only pays 20% of the cost, the employer covers 80%.
That over 20k per year.
Co-pays and deductibles then cover most of the little stuff.

Now murder for life insurance.
Hell, people kill each other for shoes or whatever stupid reason so I don't believe insurance money is all that big of a motivating factor..

a reply to: Lumenari

Insurance comissioner decides if a rate hike is acceptable. Private insurance books are not open to the public. In IA, bcbs just raised premius 16%. I seriously doubt they lost 14%, given how much the CEO took home but it sure would be nice to see those books. All that said, it varies from state to state since each state has its own insurance commissioner.

a reply to: JustJohnny

I think insurance is a lot like any other service or product, you get what you pay for.

A lot of people just pick the cheapest plan an assume they will be covered by anomalies, that's not the case as cheaper insurance doesn't cover oddities in order to offer a lower rate.

The next part is just an opinion of mine, and I tend to be a bit old school in this, I don't mind paying a bit more for an agent I know. It provides a bit of lively hood for them, they personalize it a bit more, and in the case of needing a payout from the plan they'll come up to bat for you.

a reply to: Petra137

Vehicle insurance is not mandatory in a number of states.

Proof that you are financially capable of paying if you are involved in an accident is.

So you get a bond and carry it as proof of financial responsibility.

I don't have vehicle insurance on my vehicles, I have a $50,000 bond that covers any vehicle I drive.

Paying auto insurance, unfortunately, is something you have to do if you can't afford a bond.

Thus screwing the little guy.

~shrug~

originally posted by: drewlander
a reply to: Lumenari

Insurance comissioner decides if a rate hike is acceptable. Private insurance books are not open to the public. In IA, bcbs just raised premius 16%. I seriously doubt they lost 14%, given how much the CEO took home but it sure would be nice to see those books. All that said, it varies from state to state since each state has its own insurance commissioner.

Insurance costs are rising because someone threw pre-existing conditions into the risk pool.

For instance, my wife's insurance paid out a little over 1.2 million dollars on her treatments.

Who do you think paid that?

The other policy holders.

Now, in her case we had insurance anyways and insurance companies had already calculated in things like cancer in the risk pool.

However, now we are expanding that to cover pre-existing, so the premiums will continue to go up because Johnny who never got health insurance now has cancer, buys a policy and away we go... times millions.

Insurance was never meant to be healthcare. Insurance is to insure against catastrophic events like wrecking a car or something like a heart attack.

Any who. When seen how well government has managed social security. You think government is going to manage a healthcare system any better.

Then add on personal access to government services may be based on a social score like China.

Controlling everyone’s healthcare is a central governments wet dream.

Absolutely,

I used to work for an auto insurance company and the claims adjusters were bonused off of how much they were able to deny people money for claims. Their job was to haggle with your life possibly. They looked for any reason to deny people legitimate claims. But it wasn't their fault, the Ins company has the bonus structure set up so that you had to deny a certain amount of claims in order to bonus or hit metrics.

They're all rigged man

a reply to: PraetorianAZ

I had an insurance agent tell me about how several homeowners in our area had turned in hail damage claims after a recent hail storm.

You can see clearly on the map where the hail storm actually did damage to cars and roofs.

People a mile outside of the damage zone are trying to get new roofs by committing insurance fraud. The cars in the driveway were fine but their roof by golly.

That crap doesnt help the situation.

Insurance is what helps you when something catastrophic happens to one of your large purchases.

If my house burns down tomorrow, I won't have the funds on hand to replace that. I do have insurance for it.

If I get into a car wreck, I won't have the funds on hand to replace it. But, again, I'm insured.

Health insurance operates differently because at some point, people got this crazy idea that it pays for every medical procedure you ever have, from the most routine doctors visit to the big catastrophic stuff, and for that reason, it's out of control. People have been trying to make health insurance their universal get out of paying anything for my doctor policy because they think it ought to be like single payer which they think is "free" health care and really isn't because someone has put it in their heads that health care, a human provided service, is a human right (it's not).

a reply to: Bluntone22

We had our insurance company through and inspect our roof and downgrade our insurance because they claimed we had hail damage. It's far more likely our roof is simply old. Neither of our cars has ever had hail damage. Our agent says the only way we can avoid being downgraded is get a roofing company to say it's just an older roof, not hail damage, but odds are, more roofing companies will tell you it's hail damage and you need a new roof.

a reply to: ketsuko

If your insurance company claims its hail damage then they should pay for the new roof.

Either way I would get it looked at by someone you can trust. A bad roof is bad news.

a reply to: JustJohnny

I was thinking about the honesty of insurance companies just a few days ago.

I saw an article where a man was being fined for collecting rain water. They claimed he was stealing a resource that belonged to the State. Yet when it rains and floods, unless you have a special flood insurance policy, the insurance company can get away without paying because they call it an "Act of God!"

You get zinged by the State if you collect water from God, and zinged by the insurance company if your cup overflows.

Insurance has always been about the money. You are betting that you will get the money and the company is betting you won't.

The current healthcare situation in the US is pretty screwed up. Health insurance here is a gamble. Do you want to live paycheck to paycheck paying out the ass for health insurance every month just in case you break a leg one day so that you'll only have to pay $8,000 out of pocket, or do you want to not pay for health insurance and go broke for the rest of your life because you did happen to break a leg one day?
Our healthcare system severely needs to be fixed. The thing that always gets me is - you see all these other smaller countries with much smaller economies than the US, and they're able to provide free healthcare, or at least healthcare that's drastically cheaper than us. If they can do it, there is no reason why the US, the country with the strongest economy in the world, can't.

a reply to: trollz

I agree. Because the local hospital gets stiffed by the people that don’t pay their ER bills, the hospital sticks it to those who pay. The total bill for me to get three stitches to treat an animal bite was $2000.00.

originally posted by: ketsuko
Insurance is what helps you when something catastrophic happens to one of your large purchases.

If my house burns down tomorrow, I won't have the funds on hand to replace that. I do have insurance for it.

If I get into a car wreck, I won't have the funds on hand to replace it. But, again, I'm insured.

Health insurance operates differently because at some point, people got this crazy idea that it pays for every medical procedure you ever have, from the most routine doctors visit to the big catastrophic stuff, and for that reason, it's out of control. People have been trying to make health insurance their universal get out of paying anything for my doctor policy because they think it ought to be like single payer which they think is "free" health care and really isn't because someone has put it in their heads that health care, a human provided service, is a human right (it's not).

So let me get this straight... It's your human right to own a car and a house, but if you're suffering from a medical ailment, you have no right to treatment or relief.
That's some sound logic there.

If you live in a country where nobody has access to healthcare, then that sucks, it's just crappy circumstances. If you live in a country where everyone has access to the same healthcare, then that's great. But the problem is when whether or not you get healthcare depends on how much money you have. Something is wrong when excellent healthcare is offered to one group of citizens but another group of citizens can't even see a doctor because they can't afford it - and if they have a health emergency and go to a hospital instead of dying, they're now in debt for life.

a reply to: trollz

We probably can't because of the enormous strain the health care industry is under now because they are treating so many illegal immigrants for free.

But let's just give them all "free" healthcare so we stupid citizens can pay for it by being taxed more for it, thus having less take home income...

While we can't even afford our own health insurance because of the cost of treating illegal immigrants in emergency rooms keeps driving our cost higher.

Let's just do single payer, 3/4 of the hospitals will close in a year because they can't pay the bills, tank the economy while we are at it so that nobody has anything anymore and go forward!!!

Brilliant!!!